Analysts Anticipate Fulton Financial Co. (FULT) Will Post Quarterly Sales of $208.71 Million

Wall Street analysts forecast that Fulton Financial Co. (NASDAQ:FULT) will report sales of $208.71 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Fulton Financial’s earnings. The lowest sales estimate is $203.60 million and the highest is $212.55 million. Fulton Financial posted sales of $193.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The firm is expected to report its next quarterly earnings results on Tuesday, July 17th.

On average, analysts expect that Fulton Financial will report full year sales of $834.63 million for the current year, with estimates ranging from $817.20 million to $841.00 million. For the next fiscal year, analysts forecast that the business will post sales of $884.99 million per share, with estimates ranging from $860.30 million to $897.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Fulton Financial.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, April 17th. The bank reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Fulton Financial had a return on equity of 8.71% and a net margin of 20.66%. The business had revenue of $197.19 million for the quarter, compared to the consensus estimate of $199.94 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. Fulton Financial’s revenue for the quarter was up 7.0% compared to the same quarter last year.

A number of analysts recently issued reports on the company. BidaskClub raised Fulton Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 31st. Barclays reduced their price objective on Fulton Financial from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, April 19th. Jefferies Group reissued a “hold” rating and set a $19.00 price objective on shares of Fulton Financial in a research report on Thursday, April 19th. Zacks Investment Research cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. Finally, Hovde Group reissued a “hold” rating and set a $18.00 price objective on shares of Fulton Financial in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.29.

In other Fulton Financial news, insider David M. Campbell sold 4,660 shares of the business’s stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $17.08, for a total value of $79,592.80. Following the completion of the sale, the insider now owns 617 shares of the company’s stock, valued at $10,538.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Scott Smith, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $17.30, for a total value of $86,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,485 shares of company stock valued at $231,309. Insiders own 0.84% of the company’s stock.

Several large investors have recently made changes to their positions in FULT. Schwab Charles Investment Management Inc. lifted its position in shares of Fulton Financial by 6.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,190,649 shares of the bank’s stock worth $21,313,000 after buying an additional 75,875 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Fulton Financial in the fourth quarter worth about $503,000. Smith Graham & Co. Investment Advisors LP lifted its position in shares of Fulton Financial by 21.3% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 373,630 shares of the bank’s stock worth $6,688,000 after buying an additional 65,680 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Fulton Financial by 2.9% in the fourth quarter. Foundry Partners LLC now owns 1,192,149 shares of the bank’s stock worth $21,339,000 after buying an additional 34,013 shares during the last quarter. Finally, Tower Bridge Advisors acquired a new stake in shares of Fulton Financial in the fourth quarter worth about $219,000. 64.84% of the stock is owned by institutional investors.

FULT opened at $17.50 on Friday. The firm has a market cap of $3.05 billion, a P/E ratio of 16.36, a PEG ratio of 1.74 and a beta of 1.03. Fulton Financial has a 1 year low of $17.30 and a 1 year high of $17.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.42.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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Earnings History and Estimates for Fulton Financial (NASDAQ:FULT)

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